Intech Investment Management LLC Takes Position in Biomea Fusion, Inc. (NASDAQ:BMEA)

Intech Investment Management LLC acquired a new position in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) during the 4th quarter, Holdings Channel.com reports. The firm acquired 13,909 shares of the company’s stock, valued at approximately $54,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company acquired a new stake in shares of Biomea Fusion during the third quarter worth $111,000. Maia Wealth LLC bought a new stake in shares of Biomea Fusion during the 4th quarter valued at about $62,000. SG Americas Securities LLC acquired a new stake in Biomea Fusion during the fourth quarter worth about $58,000. PNC Financial Services Group Inc. lifted its holdings in Biomea Fusion by 14.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company’s stock worth $93,000 after acquiring an additional 3,005 shares during the last quarter. Finally, Barclays PLC boosted its stake in Biomea Fusion by 156.3% in the third quarter. Barclays PLC now owns 39,620 shares of the company’s stock valued at $401,000 after acquiring an additional 24,162 shares during the period. Institutional investors and hedge funds own 96.72% of the company’s stock.

Wall Street Analysts Forecast Growth

BMEA has been the topic of a number of research reports. Oppenheimer set a $10.00 price target on Biomea Fusion in a research report on Monday. D. Boral Capital reiterated a “buy” rating and issued a $16.00 target price on shares of Biomea Fusion in a research note on Wednesday, March 19th. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Biomea Fusion in a report on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Biomea Fusion currently has a consensus rating of “Buy” and a consensus target price of $24.64.

Biomea Fusion Trading Down 7.6 %

Shares of NASDAQ:BMEA opened at $2.30 on Friday. The company has a 50 day moving average of $3.32 and a 200-day moving average of $6.02. The firm has a market cap of $83.35 million, a P/E ratio of -0.57 and a beta of -0.26. Biomea Fusion, Inc. has a twelve month low of $2.27 and a twelve month high of $16.29.

Biomea Fusion Company Profile

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.